Weekend Reading: Happy New Year 2018 Edition

Happy new year and welcome back to another edition of weekend reading – the first of 2018! We’ve got a lot in store for you this year as we continue to share our money stories and help you achieve your financial goals. As always, we’re happy to take your topic suggestions so leave a comment below or contact us by email and we’ll see if we can turn your question or idea into a story.

I have a number of goals that I’d like to achieve this year.

On the financial side I’m hoping to max out my RRSP contribution room by depositing $3,300 before the RRSP deadline. From there, due to the pension adjustment, I’ll only get to contribute about $3,600 per year going forward. I’ll set up automatic monthly contributions to hit that target each year.

I’ll also continue to add $1,000 per month to my TFSA to catch up on unused contribution room and build up that tax-free portfolio.

Finally, our mortgage will be up for renewal in September so we’ll be on the lookout for the either the best discounted 5-year variable rate or the best 1-or-2-year fixed rate. Rather than trying to predict the future, I prefer to go with the cheapest option at the time, a strategy that has proven to save money on mortgage interest nine times out of 10.

Personally, I’m going to attempt to run my first half-marathon in Calgary this spring. Running has become a big part of my life in the last 18 months and so I’m looking forward to this next challenge.

Now on with the links!

This Week(s) Recap:

I closed out 2017 with a net worth update and revealed year-over-year gains of more than $100,000!

6 Comments

I read the article ‘If you’ve won the game, stop playing’ with interest. I am at this point and am finding it hard to transition. Would Robb or Marie be able to address this situation from a Canadian perspective? Due to the dividend tax credit in Canada, I think it would result in a hefty tax bill to move out of stocks to fixed income in order to protect what you have, both with the capital gains and the ongoing tax on interest income. I have a large non-registered account, as well as a fully funded TFSA and a healthy RRSP.

I’d consider how much more time you have. I’m aiming to have big enough returns (and savings) that I can handle the extra risk, which then allows my investments to grow more and give me even more safety. But if the time and amount are too close to the minimum you need that wouldn’t work.